HootSuite Secures Another $60 Million

HootSuite may have to change its name to LootSuite. The social media marketing firm on Thursday announced closing a $60 million venture round, bringing its total raised to date to $250 million. A Boston-based asset manager led the latest financing, with participation by existing investors Accel Partners, Insight Venture Partners and Omers Ventures.

Earlier this month, The Wall Street Journal reported that Boston-based Fidelity Investment was leading a group providing additional funding for HootSuite. The Vancouver-based company offers a platform allowing marketers to create and manage ad campaigns across social properties including Facebook and Twitter.

Along with the investment, HootSuite also announced the acquisition of Zeetl, a startup that helps companies enhance customer service by giving consumers the ability to place calls through social media. With the new funding, more such deals are likely.

“Acquisitions form an important part of our growth strategy,” said HootSuite CEO Ryan Holmes, in a blog post today. The company, which says it has 10 million users worldwide, earlier this month bought Brightkit, a platform that allows marketers to run customized campaigns on social sites incorporating elements like contests and sweepstakes.

While a Re/Code reported that HootSuite is valued at a $1 billion following the new funding, the company declined comment. However, the deal does bring the company -- whose clients include the NHL, Sony Music Entertainment, Adidas, and eBay -- closer to a planned initial public offering. 

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